Witan Jump JISA

pramsay13

We have had a letter from Witan Investment Trust that they are recommending a transfer to Hargreaves Lansdown who charge 0.45% annual account charges.
Is this a good move or are there any other suggestions for Junior Stocks and Shares ISA providers?

xylophone

https://moneytothemasses.com/quick-savings/parents/best-junior-stocks-and-shares-isa may be worth a read through.

Had you looked at Vanguard?

https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-junior-isa

https://monevator.com/using-vanguard-lifestrategy-funds-life/

Alexland

Would you switch to funds/etfs with Vanguard? Or do you intend to stay invested in Witan IT?

If so how much do you have invested in the JISA and how frequently do you buy more units?

Have you considered iWeb which is likely to be cheaper in IT trade fees than HL?

Alex.

pramsay13

As far as I know we cannot stay with Witan IT as they are finishing their investment services so we have to transfer to someone else or if we do nothing it will automatically transfer to HL.

We currently have 3 accounts with around 2.5k in each, saving £50 per month each.

I will have a look at the ones suggested.

Alexland

At £50 per month its probably not viable to continue with the IT on a platform due to share trade fees. Consider moving to funds with Vanguard, etc. Their minimum is £100 per month but apparently they go lower if you meet the £500 minimum lump sum requirement which you will via ISA balance transfer.